Even if newer generations will be prepared for different types of labor, that still leaves lots of people with skills that are obsolete and the inability to adjust. And I think this problem is much bigger for lower-schooled work, which is exactly the kind of stuff that'll be automated first.
I'm a well-educated programmer and many of my skills are general and abstract enough to adjust to a changing world with relatively little effort. But I suspect a truck driver without a degree will have significantly more trouble adjusting to a world where his job is automated away.
While white-collar jobs fall somewhere in between, even there I've seen the negative effects of automation and changing requirements, and I think this is only now starting to become a real problem. I've met quite a number of people (even in the < 30 crowd) who are shockingly bad with computers, for example, and the only reasons I can think of that they get away with it is that 1) their 40+ manager/boss is is equally 'illiterate' so the whole company is 'old-fashioned' or 2) they cannot be easily fired (which I approve of, personally).
The way I see it, many of these people are one crafty, ambitious, young tech-savvy employee, consultant, or competitor away from being obsoleted. There's just a lag between what is possible and what companies actually do.